IRS Statistics of Income, Table 1: Second Round Economic Impact Payments, by Size of Adjusted Gross Income

Summary

This IRS Statistics of Income table reports Second Round Economic Impact Payments by size of adjusted gross income, cumulative through early February 2021, with money amounts in thousands of dollars. For all returns, it lists 146547277 payments totaling 141471824, split into payments made electronically, by paper check and by debit card. Footnotes explain that section 6428A of the Internal Revenue Code, added by the COVID-related Tax Relief Act of 2020, provides a refundable credit of up to $600 ($1,200 for a joint return) plus $600 per qualifying child. Eligibility and amount were based on the Tax Year 2019 return, and data are through 2021 Cycle 5. The source line reads IRS, RAAS, March 2021.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Text extracted from the spreadsheet file: one line per row, cells separated by tabs, each sheet headed by its name. Numbers appear as stored, without the workbook’s formatting.

Sheet: TBL14
Table 1.  Second Round Economic Impact Payments [1], by Size of Adjusted  Gross Income, Cumulative through Early February 2021
(Money amounts are in thousands of dollars)
Size of adjusted gross income [2]	Total
	Total economic impact payments		Economic impact payments paid electronically		Economic impact payments paid by paper check		Economic impact payments paid by debit card
	Number of payments	Amount	Number of payments	Amount	Number of payments	Amount	Number of payments	Amount
	1	2	3	4	5	6	7	8
All returns, total	146547277	141471824	112774496	111958272	25746133	22469442	8026648	7044110
No adjusted gross income [3]	1235513	1131118	417139	413116	610933	539095	207441	178907
$1 under $10,000	18706935	13629050	11736613	8730445	5324188	3746001	1646134	1152604
$10,000 under $20,000	16946747	16078139	12423851	12121056	3504635	3110627	1018261	846456
$20,000 under $30,000	16389357	15571605	13045725	12724297	2518981	2157054	824651	690254
$30,000 under $40,000	14405435	13864636	11659030	11542718	2054928	1739319	691477	582599
$40,000 under $50,000	11413571	11211583	9145292	9248387	1698739	1467346	569540	495849
$50,000 under $60,000	9286778	9466607	7322402	7709370	1471008	1311080	493368	446157
$60,000 under $75,000	10935131	12054127	8504305	9781212	1816746	1695406	614080	577510
$75,000 under $100,000	11321590	14370970	8818350	11823251	1867876	1901525	635364	646194
$100,000 under $200,000	14735637	21147117	10912229	16432310	2867573	3535081	955835	1179726
$200,000 or more	52558	23856	35809	16331	12577	5565	4172	1960
AGI not available [4]	21118025	12923016	18753751	11415778	1997949	1261343	366325	245894
[1] Section 272(a) of the COVID-related Tax Relief Act of 2020, enacted as Subtitle B of Title II of Division N of the Consolidated  Appropriations Act, 2021, Public Law 116-260, 134 Stat. 1182 (December 27, 2020), added section 6428A to the Internal Revenue  Code.  Section 6428A provides an eligible individual for their first taxable year beginning in 2020 a refundable tax credit of up to  $600 ($1,200 for eligible individuals filing a joint tax return), plus $600 per qualifying child of the eligible individual(s).  This tax  credit is referred to in section 6428A as an “additional 2020 recovery rebate for individuals.”  Section 6428A(f)(3)(A) instructs  the Secretary of the Treasury to make advance refunds of this credit “as rapidly as possible” and before January 15, 2021.  The IRS  refers to the advance refund of this credit as a Second Round Economic Impact Payment (Second Round EIP).  The credit phases out at a rate of 5% of the taxpayer’s adjusted gross income (AGI) in excess of a threshold.  The threshold is  $150,000 in the case of a joint return or qualifying widow or widower, $112,500 in the case of a head of household, and $75,000  otherwise.  Those ineligible for the credit are (1) nonresident alien individuals, (2) individuals who can be claimed as a dependent by  another taxpayer, and (3) an estate or trust.  When spouses file jointly, each spouse must have a valid social security number (SSN)  to receive the individual portion of the credit for that spouse (that is, up to $600 per spouse and $1,200 in total), unless either  spouse is a member of the U.S. Armed Forces at any time during the taxable year.  In that case, only one spouse needs to have a  valid SSN for both spouses to receive the individual portion of the credit.  To receive the qualifying child portion of the credit, at  least one spouse must have a valid SSN, and the child must have a valid SSN or adoption taxpayer identification number.  Eligibility for and the amount of the Second Round EIP was based on an individual’s Tax Year 2019 return.  Eligible individuals who  otherwise did not have a tax filing obligation but received Social Security benefits, Railroad Retirement benefits, compensation and  pension benefit payments from the Veterans Administration, or Supplemental Security Income received a Second Round EIP without  having to file a return.  Other eligible individuals who otherwise did not have a tax filing obligation were able in 2020 to submit  information through the “Non-filers: Enter Your Information Here” online portal, or through other special or simplified procedures  provided by the Treasury Department and the IRS, to receive under the CARES Act (Public Law 116-136, 134 Stat. 281  [March 27, 2020]) a First Round EIP, as provided under the newly added section 6428 of the Internal Revenue Code.  This  information was then able to be used by the IRS to generate a Second Round EIP amount.
[2] AGI comes from the Tax Year 2019 return used to generate the Second Round EIP.
[3] Includes returns with negative or zero AGI.
[4] Represents individuals who received a Second Round EIP and did not file a tax return for Tax Year 2019.  The eligibility and  amount of the Second Round EIP was determined by the presence of Form 1099 series documents indicating receipt of the  benefits described in Footnote 1 or the information submitted by the individual through the “Non-filers: Enter Your Information Here”  online portal.
NOTES:  Detail may not add to totals because of rounding.                  Table does not double-count payments that were issued, reversed, and reissued. (A reissuance could occur, for example,                   if a bank account that was targeted for an electronic funds transfer was closed at the time the Second Round EIP was issued.)                  Table does not count payments that were reversed as of 2021 Cycle 5.  (A reversal could occur, for example, if a paper check                  was returned to the IRS as undeliverable mail).                  Data are through 2021 Cycle 5 (early February).
SOURCE: IRS, RAAS, March 2021

File and source

File

20in01eip2.xls

Size

51,712 bytes

SHA-256

5c363dca630b81ec98d1c15c6609b8f2031d213b7f99f8a6f4ca1e1a3239c2eb

Our copy

20in01eip2.xls

Original

www.irs.gov